VANCOUVER, BC, Dec. 13,
2022 /CNW/ - Wall Financial Corporation (the
"Company") released its operating results and financial statements
for the nine months ended October 31,
2022. The Company recorded net earnings and
comprehensive income attributable to shareholders of the Company
for the nine months ended October 31,
2022 of $46,546,834 or
$1.43 per share compared to
$13,884,974 or $0.42 per share in the prior period. This
increase in net earnings compared to prior period was primarily due
to the sale of an investment property and improved operations at
the Company's hotels.
Revenue and income from the rental apartment operations remain
stable and revenues from the development operations decreased from
the prior period due to the closing of 120 condominium units in the
prior period.
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Three months ended
October 31
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Nine months ended
October 31
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Statements of
Earnings
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2022
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2021
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2022
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2021
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Total revenue and other
income
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$
39,879,077
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$
30,322,631
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$
113,806,249
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$
212,235,577
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Net earnings
attributable to shareholders of the Company
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7,233,196
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1,710,422
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46,546,834
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13,884,974
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Earnings per share
(diluted and non-diluted)
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$
0.22
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$
0.05
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$
1.43
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$
0.42
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Statements of
Financial Position
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October 31,
2022
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January 31,
2022
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Total assets
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$
845,195,207
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$
874,063,426
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Total non-current
liabilities
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$
289,732,884
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$
277,821,380
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Dividends
paid
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$
-
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$
-
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Dividends paid per
share
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$
-
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$
-
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The above unaudited financial information, including comparative
information, is expressed in Canadian dollars and has been prepared
in accordance with International Financial Reporting Standards,
using the same accounting policies and methods of application as
described in notes 2 and 3 of the Company's audited consolidated
financial statements for the years ended January 31, 2022 and 2021.
Wall Financial Corporation is a B.C. based real estate company
active in the development and management of residential and
commercial rental units, development and construction of
residential housing for resale, and the development and management
of hotel properties.
SOURCE Wall Financial Corporation